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CII M92 Exam Syllabus Topics:

CII Insurance Business and Finance (IBF) Sample Questions:

Question 1

To whom is financial accounting most useful?

A. The internal audit team.
B. Regulators only.
C. The underwriting department for technical pricing.
D. Stakeholders.

Question 2

Which document sets out a company's name and registered office?

A. The Chairman's Statement.
B. The Articles of Association.
C. The Memorandum of Association.
D. The registration document / Certificate of Incorporation.

Question 3

When an insurance company seeks to play a role in society via sponsorship and community projects, this is known as

A. codified management.
B. a stakeholder perspective.
C. vertical integration.
D. horizontal diversification.

Question 4

Under which Act would it be a civil offence if Mark were to sell his shares following information obtained in May?

A. Companies Act 2006.
B. Financial Services and Markets Act 2000.
C. The Criminal Justice Act 1993.
D. Data Protection Act 1998.

Question 5

An insurer intends to assess its position via a use test, to comply with proposed changes in regulations. This forms part of the rules relating to

A. capital adequacy.
B. anti-money laundering.
C. financial accounting standards.
D. claims reserving.

Solutions: